Sudarshan Sukhani of s2analytics.com has advised buying SAIL now as the stock is now bottoming out.
Sukhani told CNBC-TV18, "For long term, it is very difficult to imagine Steel Authority of India (SAIL) doubling itself from the levels where it started. I am not sure what the correct advice is. If somebody wants to buy SAIL now I would say it is a very good idea, the stock is now bottoming out. If somebody wants to trade in it then the idea would be to trade on the long side but I cannot give a target of Rs 180, it is not possible."
"So if you are comfortable with the current price I would say stay with it but then do what? My targets for the current rally are Rs 110. Anyone buying at Rs 93 would be very happy to get Rs 110 but for the gentleman the advise is very difficult to give. SAIL is a buying opportunity at current levels."
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